The top line of OLN's chemical businesses in Q3 decrease due to Hurricane Beryl-related sales losses.
JPMorgan lowered the firm’s price target on Olin (OLN) to $50 from $55 and keeps an Overweight rating on the shares post the Q3 report. While hurricane penalties to Olin in 2024 should total $135M in EBITDA , the absence of these factors should lead to double-digit EBITDA growth as a base case in 2025, the analyst tells investors in a research note. However, the firm says there is no particular strength in any of Olin’s end markets. Caustic soda demand is weak but prices are moving up because of